A share of ESS Tech Inc. (NYSE:GWH) closed at $2.39 per share on Monday, up from $2.31 day before. While ESS Tech Inc. has overperformed by 3.46%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, GWH fell by -65.41%, with highs and lows ranging from $6.93 to $2.02, whereas the simple moving average fell by -38.47% in the last 200 days.
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On July 13, 2022, Canaccord Genuity started tracking ESS Tech Inc. (NYSE: GWH) recommending Hold. A report published by Chardan Capital Markets on June 29, 2022, Initiated its previous ‘Neutral’ rating for GWH. Deutsche Bank also rated GWH shares as ‘Hold’, setting a target price of $7 on the company’s shares in an initiating report dated March 31, 2022. Guggenheim Initiated an Buy rating on March 22, 2022, and assigned a price target of $10. Robert W. Baird initiated its ‘Outperform’ rating for GWH, as published in its report on December 22, 2021. Oppenheimer’s report from December 03, 2021 suggests a price prediction of $28 for GWH shares, giving the stock a ‘Outperform’ rating. Canaccord Genuity also rated the stock as ‘Buy’.
Analysis of ESS Tech Inc. (GWH)
ESS Tech Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -124.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 7.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and GWH is registering an average volume of 1.42M. On a monthly basis, the volatility of the stock is set at 8.52%, whereas on a weekly basis, it is put at 7.54%, with a loss of -3.24% over the past seven days. Furthermore, long-term investors anticipate a median target price of $6.56, showing growth from the present price of $2.39, which can serve as yet another indication of whether GWH is worth investing in or should be passed over.
How Do You Analyze ESS Tech Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 5.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 39.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in GWH shares?
The recent increase in stakes in GWH appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in GWH has increased by 0.14% in the first quarter. The company now owns 4,169,791 shares of the stock, with a value of $10.13 million, following the purchase of 5,765 additional shares during the last quarter. Invesco Capital Management LLC made another decreased to its shares in GWH during the first quarter, downing its stake by -12.59%. During the last quarter, the company picked up -472,122 additional shares for a total stake of worth $7.97 million, bringing number of shares owned by the company to 3,278,983.
During the first quarter, GO ETF Solutions LLP added a 18,544 position in GWH. The Vanguard Group, Inc. purchased an additional 0.22 million shares in the last quarter, increasing its holdings by 7.46%, now holding 3.12 million shares worth $7.58 million. At the end of the first quarter, Legal & General Investment Manage increased its GWH holdings by 1.57% and now holds 2.03 million GWH shares valued at $4.93 million with the added 31470.0 shares during the period. GWH shares are owned by institutional investors to the tune of 39.50% at present.